The financial numbers game detecting creative accounting practices phần 4 ppt

... §13(b)(2)(B) (19 34) .39. Ibid., Rule 12b-20 (19 34) . 40 . Ibid., Rule 13b2-1 (19 34) . 41 . Ibid., Rule 13a-1 (19 34) . 42 . Ibid., Rule 13a-13 (19 34) . 43 . Ibid., §13(b)(2)(B)ii (19 34) . 44 . SFAS No. 133, Accounting ... 1998). 45 . Accounting Principles Board Opinion No. 2, Accounting for the “Investment Credit” (NewYork: Accounting Principles Board, 1962). 46 . APB Opinion No. 4 (Amending No. 2), Accounting for the ... MulfordCallaway Professor of Accounting Invesco Professor of Accounting Source: Financial Numbers Game Survey139potentially fraudulent actions if they are presented to them. Whether such actions actu-ally...

The financial numbers game detecting creative accounting practices phần 5 pptx

... receive on the loans above the amounts funded on the loans over (2) the present value of the interest they had agreed topay the buyers of the loan-backed securities. When properly executed, there ... disclosures provided by the company, net income in 1998 of $45 9, 842 ,000 underits former policy of immediate recognition of up-front membership fees would bereduced to $44 4 ,45 1,000 under the new deferral ... to its investors. At the time of sale, the company would use gain-on-sale accounting. It would record as profit the excess of (1) the sales price and the presentvalue of the estimated interest...

The financial numbers game detecting creative accounting practices phần 1 pps

... those who seek to play this financial numbers game. The Financial Numbers Game: Detecting Creative Accounting Practices was written,first and foremost, to help readers of financial statements avoid ... plunged 40 %15• Given the various creative accounting practices that can be used to play the financial numbers game, a classification scheme was devised to facilitate their discovery. The scheme ... play the financial numbers game seek certain desired realoutcomes.REWARDS OF THE GAME Expected rewards earned by those who play the financial numbers game may be manyand varied. Often the desired...

The financial numbers game detecting creative accounting practices phần 2 pps

... million. Creative Classifications within the Financial StatementsIn some instances, the financial numbers game is played in the manner in which amountsare presented in financial statements themselves ... June 2001). 44 . Cisco Systems, Inc., annual report, July 1999, p. 41 . 45 . MCI WorldCom, Inc., Form 8-K report to the Securities and Exchange Commission, Sep-tember 14, 1998, p. 4. 46 . The Wall ... direction or another.FRAUDULENT FINANCIAL REPORTINGIn the majority of cases in which the financial numbers game is played, accounting pol-icy choice and application simply fall within the range...

The financial numbers game detecting creative accounting practices phần 3 docx

... five account-ing practices to control their reported financial results and position. The first three ofthese accounting practices, big bath charges, creative acquisition accounting, and cookiejar ... of the debtor and, by so doing, to increase the likelihood of being repaid. Financial Numbers Game The use of creative accounting practices to alter a financial state-ment reader’s impression ... corporations with the same brush, unfairly so.”30Asanother member of the FEI noted, The SEC shouldn’t punish the whole financial com-munity for the sins of a few.”31Another agrees, stating “They’re...

The financial numbers game detecting creative accounting practices phần 6 ppsx

... the increase in paid-in capital.Thus, the net effect of the issuance of the warrants was no change in paid-in capital.However, in future periods, the $40 0, 246 ,45 8, adjusted for changes in the ... acquisition costs equal to the differencebetween the fair value of the Company’s common stock on the date the warrants are issuedand the exercise price of the warrants of $0.01. The amount of deferred ... lingering on the books from the 1986 merger of Burroughs Corp. and Sperry Corp.that created Unisys. 4 The four examples identified in the opening quotes capture the essence of the potentialfor accounting...

The financial numbers game detecting creative accounting practices phần 7 doc

... $3,190,755 $4, 2 64, 207 $3,203,5 24 $3 ,47 8,017Gross profit on sales 841 ,275 1,156,000 872,659 930,979Net earnings 14, 550 52, 349 58,818 56,608Net LIFO charge (credit) 2 ,44 4 2 ,44 4 1,833 (4, 030)Source: ... Team-Fly® 240 On some occasions, companies that play the financial numbers game will overstate the value of assets received for the issue of stock. While bypassing the income statement, the net ... income over the remaining term of the securities. 48 The transfer will permit the recognition in income of unrealized investment gains total-ing $1.1 billion over the holding periods of the investments....

The financial numbers game detecting creative accounting practices phần 8 doc

... net income, the financial numbers game can involve the creative movement of items between income statement classifications.As the focus of users has moved away from the bottom line, these alternative ... statement is the premier playground for those who engage in the financial numbers game. The goal of this chapter has been to outline the key features of the GAAP-basis income statement. Then, based ... nonrecur-ring—items offset each other, then the absence of a line-item change will reduce the like-lihood of a search for the composition of the line item. The other income and expense note of The Sherwin-Williams...

The financial numbers game detecting creative accounting practices phần 9 doc

... managementis running the shop. 4 The previous chapter laid out the GAAP requirements surrounding the income statementand also outlined how the financial numbers game could be played by creative classifi-cations ... ourresults. 42 The Amazon.Com pro-forma measures are not showcased in the 10-K report, for the year ending December 31, 2000, to the extent that they are in the 2001 interim earningsreleases. The high ... computation of these pro-formameasures is considered along with their motivation, characterization, and disclosure.Their role in the financial numbers game is also explored.RECASTING THE BOTTOM...

The financial numbers game detecting creative accounting practices phần 10 ppsx

... Team-Fly® 385 Financial numbers game adjustment of financial statements, 44 48 common labels for, 3defined, 16, 52, 87earnings management distinguished, 30, 58generally, 1– 14, 49 , 50glossary, ... it is recommended that the analyst review carefully the ratios outlined in Chap-ter 8 and consider the implications for creative accounting practices detailed there. The limited exceptions where ... 215defined, 232expenses, 211Aggressive accounting catalysts for change, 44 48 defined, 3, 15, 50, 86fraudulent reporting, distinguishing, 41 44 generally, 49 Aggressive capitalization policies,...

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